In the last six weeks, A2M has developed an ascending triangle (continuation):
Checking off this chart against Stockharts.com - https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:ascending_triangle_continuation
(1) "In order to qualify as a continuation pattern, an established trend should exist."
Check - Current triangle continues an earlier (albeit broader) uptrend since March.
(2) "At least 2 reaction highs are required to form the top horizontal line"
Check - See 2 highs on the upper line (white circles).
(3) "These reaction lows should be successively higher, and there should be some distance between the lows"
Check - See 3 successively higher lows (white ovals) separated by highs.
(4) "The length of the pattern can range from a few weeks to many months with the average pattern lasting from 1-3 months.
Check - Current pattern is 6 weeks old.
(5) "As the pattern develops, volume usually contracts."
Check - See blue arrow and recent decline in volume MA (orange squiggle).
The upshot (according to Chartschool):"Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation."
Let's see if A2M tests $20 (for a 3rd time) in the coming weeks - either before or after the August 19th report.
I think Bessie here is owned by Dairy Farmers:
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Last
$5.77 |
Change
-0.090(1.54%) |
Mkt cap ! $4.178B |
Open | High | Low | Value | Volume |
$5.80 | $5.84 | $5.75 | $1.599M | 276.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 18659 | $5.76 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.77 | 9923 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 9 | 5.770 |
18 | 24263 | 5.760 |
19 | 47495 | 5.750 |
13 | 20641 | 5.740 |
10 | 43238 | 5.730 |
Price($) | Vol. | No. |
---|---|---|
5.780 | 10486 | 19 |
5.790 | 13743 | 19 |
5.800 | 28280 | 14 |
5.810 | 19938 | 7 |
5.820 | 30255 | 8 |
Last trade - 11.11am 27/08/2024 (20 minute delay) ? |
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A2M (ASX) Chart |